Identity Theft Linked to 60% of UK Fraud

Identity Theft Linked to 60% of UK Fraud

According to the UK's Fraud Prevention Service Cifas, fraud involving the misuse of the personal data of victims accounted for more than 60% of all fraud in the UK throughout 2013.

The findings confirm that the misuse of personal data is the most severe challenge to organisations and individuals.

According to the report, more than 129,000 victims of identity related crimes were recorded in 2013. This stresses that there is more work to be done by organisations regarding data security to ensure safer online behaviour.

Credit and store cards were the most targeted by fraud in 2013, accounting for 30% of all frauds.

The report said the internet remained a key fraud enabler, with a staggering 90% of identity fraud involving plastic card accounts committed online.

Richard Hurley, communications manager at Cifas said: "Organisations - both public and private sector - that are not putting counter fraud measures in place and sharing their expertise and data are making it more difficult for the UK to defeat fraud.

"While any reduction in fraud is good, this report demonstrates that the fraudsters have merely changed tactics. It is up to the collective efforts of the UK's public and private sectors therefore to do more to do to protect its reputation as a safe place to do business."